WASHINGTON, D.C. – Congressman Pete Stauber (MN-08) introduced H.R. 8865, the Protecting Taxpayers from Fraudulent Providers Act to defend taxpayer dollars by preventing fraud in federal health care programs. Specifically, this bill permanently bars a person, company, clinic, contractor, or other organization convicted of stealing money and committing fraud in government health care organizations, such as Medicare, Medicaid, or CHIP, from ever participating in those programs again.
“Fraud is rampant in federal programs across the country, as highlighted by the massive fraud scandal that recently rocked Minnesota,” said Congressman Pete Stauber. “It has been infuriating to learn about the criminals who enriched themselves with expensive homes, luxury cars, and lavish vacations by stealing over $9 billion in taxpayer dollars meant to help the most vulnerable among us. Minnesotans – and…
THE TD BANK INSIDER “BRIBE-FOR-DATA” SCHEME (USA)
Date: February 17, 2026 Perpetrator: Edward Low (Former Bank Employee)
Case Description: In a high-profile case of “Insider Threat,” Edward Low, a former employee of TD Bank in New York, pleaded guilty in a New Jersey federal court to accepting bribes in exchange for confidential customer data. Between 2021 and 2022, Low leveraged his internal access to harvest the personal details of high-balance account holders. He then sold this “hot data” to external fraud syndicates for as little as $26,700 in personal kickbacks.
The external fraudsters used the information Low provided to conduct “Account Takeovers” (ATO), creating fraudulent checks and falsifying bank records to drain over $500,000 from unsuspecting customers. Low even went as far as helping co-conspirators open shell company accounts at a second financial institution where he was later employed. He now faces a maximum penalty of 30 years in prison. This case has sent shockwaves through the global banking sector, highlighting that even the most robust external firewalls cannot protect against a “rogue insider” with administrative credentials.
Link to Original: US Dept of Justice – TD Bank Insider Plea